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Adjustable-rate mortgages are scheduled to see their interest rates adjust

Arm fucked our entire economy and sent us into the 08 housing crisis which was our ......great recession or great ______ fill in blank

We created pmi, but it did not stop predatory loans
 
FXCLM5 said:
Arm fucked our entire economy and sent us into the 08 housing crisis which was our ......great recession or great ______ fill in blank

We created pmi, but it did not stop predatory loans
Click to expand...
It wasn't really ARM's that created that problem, it was the shitty mortgage securities.
 
Eldritch said:
It wasn't really ARM's that created that problem, it was the shitty mortgage securities.
Click to expand...
Don't forget the predatory lending.
 
Um it was balloon arms and mortgage brokers pushing adjustable balloon rates with, don't worry you will get a raise, and your going to be fine in 5 years, the time was right when internet was really taking off and everything and everyone thought 2000+ was going to be up and up and up

Do not think this happened in 2008, this was like 2000-2008

My family has been in real estate since 99
 
mikev said:
Don't forget the predatory lending.
Click to expand...

So, predatory lending is a money loser of you don't have bogus mortgage securities to cover them. If all those guys had to just sit back and collect the debt they issued to pay back, most of those loans never would have been made.

Now, if you can sell a high risk garbage loan to a broker who runs Joe Schmo's 401k instead of backing the loan with your own money, fuck yeah, cash those in all day, right?

Should have been fucking public executions in the aftermath of that process.
 
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